Two major oil groups raise naphtha prices

On January 31st, the reporter learned from Zhongyu Information Institute that PetroChina and Sinopec raised their naphtha settlement prices in February, rising by 327 yuan/ton and 350 yuan/ton respectively.

According to data provided by Zhongyu Information, Sinopec raised its naphtha price by RMB 350/t in February 2012. The ex-factory tax exemption price for naphtha between refinery companies was adjusted from 6,620 yuan/ton to 6,970 yuan/ton; the price for the eastern chemical company at Tahe branch was adjusted from 5,820 yuan/ton to 6,170 yuan/ton.

In February, CNPC’s internal supply price of naphtha in the same company was adjusted from RMB 5,864/ton in January to RMB 6,191/ton, up by RMB 327/ton.

According to public information, the naphtha price in Shandong Province was slightly pushed up on January 30. Due to the different quality, the current price for naphtha refining in Shandong is concentrated at RMB 7900-8200/t. At present, the price of naphtha concentrates 7900-8150 yuan/ton.

Due to the holiday atmosphere has not yet ended, the domestic solvent oil market performance is dull. After the holiday, the operating rate of refineries slowly picked up and the market supply will be eased. According to Zhongyu Information, end-users and traders have begun to return to the market gradually, and downstream companies have gradually resumed construction. Most of the companies are watching the near-term market.

Zhong Hong Information Analyst Sun Hongmei believes that, combined with the current international situation analysis, the current crude oil price trend forecast, in February 2012, is only one step away from China's refined oil retail price increase, although there is still some resistance to the increase in refined oil products in February. However, the average price of the three places may fluctuate for a long time under the price adjustment window, forcing the wholesale price of gasoline in the domestic refined oil market to remain stable at a high level.